According to a Mediaite report, CNN is preparing for massive cuts on Thursday, with hundreds expected to be laid off ahead of a company-wide restructure.

The struggling network may also relocate the production of top shows from New York to Atlanta for cost-cutting purposes.

 
Warner Bros. Discovery, CNN’s parent company, recently invested more than $70 million into the network to help expand its digital operations, according to CNN CEO Mark Thompson.
From Mediaite:

Although the job cuts are very extensive, they will not affect CNN’s recognizable names and anchors. The network has a large number of staff that totals about 3,500 across the globe. Back in October, CNN formed a digital paywall that charges users $3.99 per month to view content.

NBC News is also planning to fire some staff later this week; however, the jobs losses are expected to be under 50, according to CNBC.
The job cuts come as media companies prepare to transition themselves to where more and more consumers seek out their news: streaming and social media.

President Donald Trump reacted to the CNN cuts on TRUTH Social.
“MSDNC is even worse than CNN. They shouldn’t even have a right to broadcast — Only in America!” Trump shared on TRUTH Social.

{Matzav.com}